Halcyon, a technology company specializing in advanced data integration, says it is partnering with Freddie Mac. The collaboration leverages Halcyon’s direct IRS integration to support Freddie Mac‘s income verification solution in Loan Product Advisor (LPASM).
By utilizing Halcyon’s advanced data algorithms and integrations, lenders can access consumer’s income information, with their permission, for a fraction of the industry-average cost and in less time. The data will be accessible to Freddie Mac’s LPA asset and income modeler solution to calculate qualified income for LPA’s risk assessment, further driving workflow efficiency and providing increased confidence in the quality of the data.
“We are thrilled to partner with Halcyon to support Freddie Mac’s income verification solution, which provides critical data to lenders and creates operational efficiency,” says Kevin Kauffman, Freddie Mac single-family vice president and head of client engagement. “Strategic partnerships are the key to lowering manufacturing costs, improving overall loan quality and making homeownership more attainable.”
While today’s market offers a growing number of income verification data providers, Halcyon aims to break down barriers to homeownership in underserved markets by making the loan application process fairer, significantly faster and less expensive.
With data culled directly from the IRS, Halcyon’s method of procuring and aggregating income data for lenders will provide a clearer picture of a borrower’s ability to obtain financing.
